Power rental services deliver an uninterrupted energy supply to consumers and are ideal across remote areas with limited access to power. These services come in handy mainly when there is transmission disconnection, grid failure, & power outage, among others. Industries like mining, construction, manufacturing, etc., are the prominent consumers of power rental services across Saudi Arabia.
The Saudi Arabia Power Rental Market is projected to grow at around 12% CAGR during the forecast period, i.e., 2022-27. The growth of the market is likely to be driven by the rapidly increasing construction activities in Saudi Arabia, owing to the growing government focus on infrastructural developments for economic diversification, i.e., propelling the demand for interrupted power supply for various operations at sites. It, in turn, is soaring the need for power supply on a rental basis and driving the market across Saudi Arabia.
|Study Period||Historical Data: 2017-20|
|Base Year: 2021|
|Forecast Period: 2022-27|
|Key Companies Profiled||Al-Futtaim Auto Machinery Co., Aggreko, Byrne Equipment Rental, Cummins, Energy Equipment Rental Co., Hertz Dayim Equipment Rental, Peax Equipment Rental, Rental Solutions & Services, Nour Energy Co. Ltd., Smart Energy Solutions|
|Unit Denominations||USD Million/Billion|
Additionally, escalating tourism and a growing number of hotels & resorts are also surging the demand for power rental services for several day-to-day operations. Besides, the increasing establishment of multinational companies is also stimulating the construction activities in the country and, in turn, fueling the demand for power rental services.
Moreover, massive government support through various initiatives & strategic frameworks like Saudi Vision 2030 to transform the country's economy is another crucial aspect anticipated to generate lucrative growth opportunities for the leading players in the Saudi Arabia Power Rental Market during the forecast period. For instance:
In addition, the presence of natural resources like oil & gas entwined with growing mining activities in the country are also expanding the potential for power rental services & boosting the overall market. Furthermore, the massive funding for the exploration & production of reservoirs is another vital factor displaying substantial potential for the leading market players through 2027.
Impact of Covid-19 on the Saudi Arabia Power Rental Market
The advent of Covid-19 in 2020 had a decelerating effect on most industries, where the Saudi Arabia Power Rental Market was no exception. With the imposition of stringent movement restrictions & lockdown by the government to curb the spread of this dreadful disease, the market underwent several unprecedented challenges.
Corporate sectors had to make a paradigm shift to work from home policies, and the manufacturing, mining, and other sectors temporarily halted their operations to reduce & eliminate the virus spread among workers. As a result, the demand for power rental services witnessed a decline and caused massive financial losses to the leading players in the market. However, on the other hand, the market witnessed a temporary hike through construction activities across the country, which sought the demand for power rental services.
Nonetheless, with the declining number of Covid-19 cases, the government uplifted the restrictions & allowed the recommencement of business operations. With this, the leading players in the market resumed offering services across end-user industries. Currently, the market is expanding well and on its path to recover from financial losses caused amidst the pandemic.
Based on the Application:
Amongst all, the Construction application dominated the Saudi Arabia Power Rental Market in recent years, and the same trend is likely during the forecast period. It attributes principally to the growing government focus on infrastructure developments, i.e., projecting an extensive construction of airports, highways, roads, hotels, shopping complexes, residential buildings, etc., and, in turn, propelling the demand for power rental services for uninterrupted energy supply required in construction operations.
Besides, the escalating construction of new buildings across the commercial & residential sectors are also anticipated to display the maximum consumption of power rental services & augment the overall market growth through 2027. Moreover, the rapidly expanding tourism is another prominent aspect positively influencing the demand for power rental services to suffice the energy requirements of the hospitality sector. For instance:
Based on the Type:
Here, Diesel Generators acquired the largest market share in recent years. It owes principally to the rapidly growing demand for power rental services across the off-grid & remote areas in the country entwined with the growing ease of access to fuel. Besides, easy portability for power rental through diesel generators is also playing a crucial role in boosting the demand for these services and augmenting the overall market growth.
Moreover, the mounting inclination of the Saudi government on diversifying the economy away from oil & gas under their strategic Vision 2030 is another crucial aspect displaying an increasing number of construction projects across the country. It, in turn, is boosting the demand for diesel generators on a rental basis to deliver an uninterrupted power flow.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Saudi Arabia Power Rental Market is projected to grow at around 12% CAGR during 2022-27.
A. The Construction sector is projected to emerge as areas of remunerative opportunities for the leading players in the Saudi Arabia Power Rental Market through 2027.
A. The escalating number of mining & construction projects across Saudi Arabia is the key growth opportunity for the leading players in the Saudi Arabia Power Rental Market to deliver power rental services across the country & drive the market during the forecast period.
A. In the coming years, the leading players in the Saudi Arabia Power Rental Market are anticipated to increase their power supply capabilities in the country through mediums like diesel & gas generators and augment the overall market growth.
1.1. Research Process
1.3. Market Segmentation
1.4. Market Definition
2. Executive Summary
3. Saudi Arabia Macroeconomic Outlook
4. Saudi Arabia Diesel Generator Industry, Customer Survey
4.1. Customer Priorities
4.2. Expectations from Vendors
4.3. Brand Awareness
4.4. Price Neutrality
4.5. Current Brand Satisfaction Level
4.6. Plan to Opt for Power Rental Equipment in Future
5. Saudi Arabia Power Rental Market Outlook, 2017-2027F
5.1. Market Size & Analysis
5.1.1. Market Revenues
5.2. Market Share & Analysis
5.2.1. By Type
22.214.171.124. Diesel Generator
126.96.36.199. Gas generator
5.2.2. By Capacity
188.8.131.52. Up to 100 KVA
184.108.40.206. 100.1 KVA-350 KVA
220.127.116.11. 350.1-750 KVA
18.104.22.168. Above 1000 KVA
5.2.3. By Application
22.214.171.124. Power Utilities
126.96.36.199. Oil & Gas
5.2.4. By Region
5.2.5. By Company
188.8.131.52. Competitor Wise Revenue Share
184.108.40.206. Strategic Factorial Indexing
220.127.116.11. Competitor Placement on MarkNtel Quadrant
6. Saudi Arabia Diesel Upto 100 KVA Generator Rental Market Outlook, 2017-2027F
6.1. Market Size & Analysis
6.1.1. Market Revenues
6.2. Market Share & Analysis
6.2.1. By Type
6.2.2. By Application
6.2.3. By Region
7. Saudi Arabia Diesel 350.1 KVA to 750 KVA Generator Rental Market Outlook, 2017-2027F
7.1. Market Size & Analysis
7.1.1. Market Revenues
7.2. Market Share & Analysis
7.2.1. By Type
7.2.2. By Application
7.2.3. By Region
8. Saudi Arabia Diesel Above 1,000 KVA Generator Rental Market Outlook, 2017-2027F
8.1. Market Size & Analysis
8.1.1. Market Revenues
8.2. Market Share & Analysis
8.2.1. By Type
8.2.2. By Application
8.2.3. By Region
9. Saudi Arabia Power Rental Market Trends & Developments
10. Saudi Arabia Power Rental Policy & Regulations
11. Saudi Arabia Power Rental Market Dynamics
12. Saudi Arabia Power Rental Market Pricing Analysis
13. Competitive Benchmarking
13.1.1. Competitor Capabilities
13.1.2. Target Markets
13.1.3. Target End Users
13.1.4. Strategic Alliances or Partnerships
13.1.5. Strategic Initiatives
13.2.Company Profiles (Business Description, Product Segments, Business Segments, Financials, Strategic Alliances/Partnerships, Future Plans)
13.2.1. Al-Futtaim Auto Machinery Co.
13.2.3. Byrne Equipment Rental
13.2.5. Energy Equipment Rental Co.
13.2.6. Hertz Dayim Equipment Rental
13.2.7. Peax Equipment Rental
13.2.8. Rental Solutions & Services
13.2.9. Nour Energy Co. Ltd.
13.2.10. Smart Energy Solutions